v2.4.0.6
SEGMENT INFORMATION
12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

17. SEGMENT INFORMATION

The Company has two reportable segments: North American wholesale operations (“wholesale”) and North American retail operations (“retail”). The chief operating decision maker, the Company’s Chief Executive Officer, evaluates the performance of its segments based on earnings from operations and accordingly, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the table below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification.
In the wholesale segment, shoes are marketed through more than 10,000 footwear, department and specialty stores, primarily in the United States and Canada. Licensing revenues are also included in the Company’s wholesale segment. The Company has licensing agreements with third parties who sell its branded apparel, accessories and specialty footwear in the United States, as well as its footwear in Mexico and certain markets overseas. In 2013, 2012 and 2011, there was no single customer with sales above 10% of the Company’s total sales.
In the retail segment, the Company operated 17 Company-owned stores in principal cities and an internet business in the United States as of December 31, 2013. Sales in retail outlets are made directly to the consumer by Company employees. In addition to the sale of the Company’s brands of footwear in these retail outlets, other branded footwear and accessories are also sold.
The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies. Summarized segment data for the years ended December 31, 2013, 2012 and 2011 was as follows:
 
 
 
 
 
 
Wholesale
 
Retail
 
Other
 
Total
  
 
(Dollars in thousands)
2013
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Product sales
 
$
222,459
 
 
$
23,255
 
 
$
51,372
 
 
$
297,086
 
Licensing revenues
 
 
3,198
 
 
 
 
 
 
 
 
 
3,198
 
Net sales
 
 
225,657
 
 
 
23,255
 
 
 
51,372
 
 
 
300,284
 
Depreciation
 
 
2,481
 
 
 
538
 
 
 
943
 
 
 
3,962
 
Earnings from operations
 
 
20,742
 
 
 
3,018
 
 
 
3,995
 
 
 
27,755
 
Total assets
 
 
230,509
 
 
 
7,412
 
 
 
29,612
 
 
 
267,533
 
Capital expenditures
 
 
790
 
 
 
34
 
 
 
1,875
 
 
 
2,699
 
2012
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Product sales
 
$
214,568
 
 
$
24,348
 
 
$
51,215
 
 
$
290,131
 
Licensing revenues
 
 
3,340
 
 
 
 
 
 
 
 
 
3,340
 
Net sales
 
 
217,908
 
 
 
24,348
 
 
 
51,215
 
 
 
293,471
 
Depreciation
 
 
2,083
 
 
 
544
 
 
 
711
 
 
 
3,338
 
Earnings from operations
 
 
22,214
 
 
 
1,662
 
 
 
5,921
 
 
 
29,797
 
Total assets
 
 
246,523
 
 
 
7,994
 
 
 
30,804
 
 
 
285,321
 
Capital expenditures
 
 
7,235
 
 
 
844
 
 
 
1,461
 
 
 
9,540
 
2011
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Product sales
 
$
195,638
 
 
$
24,740
 
 
$
47,273
 
 
$
267,651
 
Licensing revenues
 
 
3,449
 
 
 
 
 
 
 
 
 
3,449
 
Net sales
 
 
199,087
 
 
 
24,740
 
 
 
47,273
 
 
 
271,100
 
Depreciation
 
 
1,677
 
 
 
565
 
 
 
349
 
 
 
2,591
 
Earnings from operations
 
 
15,673
 
 
 
1,554
 
 
 
5,970
 
 
 
23,197
 
Total assets
 
 
237,279
 
 
 
7,374
 
 
 
28,855
 
 
 
273,508
 
Capital expenditures
 
 
6,562
 
 
 
249
 
 
 
1,364
 
 
 
8,175
 
All North American corporate office assets are included in the wholesale segment. Transactions between segments primarily consist of sales between the wholesale and retail segments. Intersegment sales are valued at the cost of inventory plus an estimated cost to ship the products. Intersegment sales have been eliminated and are excluded from net sales in the above table.

Geographic Segments

Financial information relating to the Company’s business by geographic area was as follows for the years ended December 31, 2013, 2012 and 2011:
 
 
 
 
 
2013
 
2012
 
2011
  
 
(Dollars in thousands)
Net Sales:
 
 
  
 
 
 
  
 
 
 
  
 
United States
 
$
231,729
 
 
$
225,397
 
 
$
212,779
 
Canada
 
 
17,183
 
 
 
16,859
 
 
 
11,049
 
Europe
 
 
8,117
 
 
 
7,230
 
 
 
8,014
 
Australia
 
 
29,318
 
 
 
29,465
 
 
 
25,049
 
Asia
 
 
9,484
 
 
 
8,956
 
 
 
8,277
 
South Africa
 
 
4,453
 
 
 
5,564
 
 
 
5,932
 
Total
 
$
300,284
 
 
$
293,471
 
 
$
271,100
 
Long-Lived Assets:
 
 
  
 
 
 
  
 
 
 
  
 
United States
 
$
77,755
 
 
$
80,268
 
 
$
75,293
 
Other
 
 
9,255
 
 
 
6,009
 
 
 
5,116
 
  
 
$
87,010
 
 
$
86,277
 
 
$
80,409
 
Net sales attributed to geographic locations are based on the location of the assets producing the sales. Long-lived assets by geographic location consist of property, plant and equipment (net), goodwill, trademarks and amortizable intangible assets.